ImmunoGen (IMGN) Receives Price Target

ImmunoGen (IMGN) stock is expected to deviate a maximum of $2.41 from the average target price of $5.9 for the short term period. 5 Street Experts have initiated coverage on the stock with the most promising target being $9 and the most muted being $3.

ImmunoGen (IMGN) : The consensus on ImmunoGen (IMGN) based on 7 analyst recommendation on the company stock is 2.61, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.


Also, Jefferies maintains its rating on ImmunoGen (NASDAQ:IMGN). The global brokerage major lowers the current price target from $13 per share to $6 per share. Analysts at the Jefferies have a current rating of Buy on the shares. The rating by the firm was issued on August 5, 2016.

ImmunoGen (NASDAQ:IMGN): The stock opened at $2.80 on Thursday but the bulls could not build on the opening and the stock topped out at $2.84 for the day. The stock traded down to $2.75 during the day, due to lack of any buying support eventually closed down at $2.80 with a loss of -0.36% for the day. The stock had closed at $2.81 on the previous day. The total traded volume was 773,474 shares.

ImmunoGen, Inc. (ImmunoGen) is a clinical-stage biotechnology company focused on the development of targeted anticancer therapeutics. The Companys clinical and preclinical product candidates are antibody-drug conjugates (ADCs), which is a type of medicine that uses a monoclonal antibody to deliver a therapeutic agent to targeted cells. The Company has three clinical-stage anticancer compounds: mirvetuximab soravtansine (IMGN853), coltuximab ravtansine, IMGN529, and IMGN779. The Companys partners are Amgen Inc., Bayer HealthCare (a subgroup of Bayer AG), Biotest AG, Eli Lilly and Company (Lilly), Novartis Institutes for BioMedical Research, Inc. (Novartis), the Roche Group, Sanofi and Takeda. The Companys collaborative partner compounds include Kadcyla, Indatuximab ravtansine, Isatuximab, Anetumumab ravtansine, AMG 595, AMG 172, SAR566658, SAR408701, LOP628 and PCA062. All of the Companys compounds are ADCs with the exception of isatuximab, which is a therapeutic antibody.

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